On December 14, 2009, Cablevision Systems Corporation (“Cablevision”) announced that its subsidiary, Madison Square Garden, L.P., (“MSG”) obtained commitments from a group of banks for a new $375 million, 5-year senior secured revolving
credit facility, which will be undrawn at closing. The facility would be used by MSG for working capital needs, ongoing capital expenditures and other general corporate purposes.

On December 14, 2009, Cablevision announced that it expects to complete the spin off of MSG during the first quarter of 2010.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CABLEVISION SYSTEMS
CORPORATION

(Registrant)

By:

/s/ Michael P. Huseby

Name:

Michael P. Huseby

Title:

Executive Vice President and Chief Financial Officer

Dated: December 17, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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